The New Jersey Division of Gaming Enforcement reported $90.5 million in adjusted gross sports betting revenue for April as operators regrouped from a tough March.
Winnings were up 26.9% from the previous month as the 9.1% hold was nearly 2.7 percentage points higher. It was back to business as usual for the house when it came to parlays as operators finished with a 17.1% hold to claim $55 million.
Year-over-year handle, however, declined for the fourth consecutive month. The $994.4 million worth of accepted bets was down 4.8% from 2024, and the $4.24 billion handle for the first four months of 2025 is 18% lower compared to last year.
The state collected $11.7 million in tax revenue, and the $46.1 million in receipts this year is $10 million behind last year’s pace.
A record month for Fanatics
Though year-over-year revenue was down 14.8% — the April 2024 hold was more than a full percentage point higher at 10.2% — Fanatics put together its best month in the Garden State since the rebranding from PointsBet last May. It finished with $12.9 million in revenue, nearly triple March’s total and well beyond its previous high of $6.8 million established in January.
FanDuel led all mobile sportsbooks for revenue in April with $31.8 million, but that was also a decline of nearly 16% from last year. Conversely, the $22.4 million claimed by DraftKings represented an increase of 18.3%. BetMGM ($7.1 million) and bet365 ($5.6 million) rounded out the top five among operators for revenue, with the latter posting its second-highest monthly revenue total since the NJDGE began publishing individual operator figures last year.
ESPN BET also had its second-best month with more than $3.5 million in revenue, surging 70.9% higher from last year. Caesars tailed off slightly from last year to $1.7 million, down 5.8%, and Hard Rock Bet more than tripled its winnings from April 2024 to almost $1.6 million.
Secondary sports key strong April
In addition to parlays, sportsbooks found spring success outside baseball and basketball. The catch-all “other” category, which includes tennis, golf, soccer, hockey, and MMA in New Jersey, provided $22.1 million in revenue as the house attained a 9.3% hold from $236.5 million in handle.
It was the highest monthly hold for the category since a 12.4% win rate in January 2024, with the winnings their most since $27.9 million was claimed in March 2024.
Bettors continued to fare well when it came to wagering on basketball, holding the house to a 3.5% hold and $8.9 million in revenue. It was the seventh consecutive month operators failed to reach a 4% win rate as year-over-year revenue tumbled 30.6%.
Wagering on baseball fell sharply compared to last year at $179.9 million. That was down 33.4%, a difference of $90.4 million from April 2024. The public also started the season fast in limiting operators to a 3.3% win rate — 3.8 percentage points lower than 2024 — as the $5.9 million in revenue marked a year-over-year drop of 69.1%.
